Cloud Storage Market is projected to witness a compound annual growth
rate of 29.73% to reach a total market size of US$92.488 billion by
2022, from US$25.171 billion in 2017.

Emerging adoption of Cloud solutions across verticals such as BFSI,
healthcare, and media and entertainment among others is driving the
growth demand for cloud storage solutions. Other factors contributing to
the growth of the market are increasing adoption of cloud storage
gateways, burgeoning investments in latest Information Technology
solutions and more awareness and deployment of cloud-based solutions.

Though, privacy and security issues remain a challenge to the market
growth, advantages offered by the cloud solutions will outweigh these
concerns on account of new solutions being designed to address these
challenges.